Market Check

John Ellis and the Automotive Advisor team hit us with hard data and valuable auto market insights every week. Here’s the latest:

🌡️ Economic Health-o-Meter:

• Despite reports of economic growth at a 1.8% annual pace in Q2, the Federal Reserve still raised interest rates by a quarter-percentage-point last week due to continued inflation concerns.
• The US is likely in for at least one more hike before the end of the year.

📈 New Car Market — Down but Up:
Over the past two weeks, the new car market has shown signs of a slower sales pace and slight price dips, but overall everything is up YoY.

• Days of supply = 53. ⬇️ 1 from two weeks ago, ⬆️ 49% YoY.
• Available supply = 1.89M. ⬇️ 63K from two weeks ago, ⬆️ 79% YoY.
• Sold in last 30 days = 1.07M. ⬇️ 25K from two weeks ago, ⬆️ 20% YoY.
• Average list price = $46,981. ⬇️ $567 from two weeks ago, ⬆️ 2% YoY.

📉 Used — Up but Down:
The used retail market is pretty stable right now, with the average listing price up only slightly, but overall stats are still a lil’ down YoY.

• Sold in last 30 days = 1.42M. ⬆️ 31K from two weeks ago, ⬇️ 9% YoY.
• Average list price = $27,221. ⬆️ $49 from two weeks ago, ⬇️ 3% YoY.

🙇 Wholesale’s Slight Slump:

• The car segment sees a slight depreciation for 0-to-2-year-old and 8-to-16-year-old models, with luxury segments showing softer declines.
• The truck segment experiences a minor decline, with 0-to-2-year-old models down by 0.50%.
  ‍